The Inland Revenue Authority of Singapore has announced the signing of a tax information exchange agreement (TIEA) and a reciprocal FATCA Intergovernmental agreement (FATCA IGA) with the United States on 13 November 2018. The TIEA is the first of its kind between the two countries and will enter into force after its ratification by Singapore. The FATCA IGA will enter into force after its ratification by both countries and, once in force, will supersede the current non-reciprocal FATCA agreement between the two countries.